Akamai Reportedly Buying Rival Cotendo For Up To $350 Million

Classify this as a rumor for now, but Israeli business press is reporting that Akamai is poised to take over one of its competitors, website and mobile acceleration technology vendor Cotendo, for $300 million to $350 million. Founded in 2008, Cotendo has raised over $36 million in funding from investors like Sequoia Capital, Benchmark Capital and Tenaya Capital. A few months ago, Cotendo raised $17 million in new funding from its previous backers, with Citrix Systems and Juniper Networks stepping in as strategic investors as well.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/RzneMXv8wec/

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